Practical: Step-by-Step Trading Process
Key Takeaways
- A repeatable 15-step routine removes guesswork.
- Risk is calculated before placing the order.
- Reviewing every trade is what builds long-term skill.
1. Select a broker
Choose a regulated broker or reputable exchange suited to your market (see Module 6). Check regulation, spreads and withdrawal reputation.
2. Create account
Register with a strong, unique password and accurate details.
3. Verify identity
Complete KYC with a government ID. Enable 2FA via an authenticator app.
4. Deposit money
Fund your account using a method you understand. Start with capital you can afford to lose.
5. Open TradingView
Load your chart on TradingView for analysis; youβll execute on your broker/exchange.
6. Analyze chart
Start on a higher timeframe (daily/4h) for context, then drop to your trading timeframe.
7. Determine trend
Use market structure (HH/HL or LH/LL) to identify the direction. Trade with it, not against it.
8. Find support and resistance
Mark key levels and zones where price has reacted before.
9. Calculate risk
Decide your risk (e.g. 1%) and stop placement, then compute position size. Use the position size calculator.
10. Place order
Enter only when your setup and confirmation align. Use the correct order type (market or limit).
11. Set stop loss
Place your stop beyond a structural level immediately β never trade without one.
12. Set take profit
Set a target giving at least 1:2 risk-to-reward, ideally at the next major level.
13. Monitor trade
Let the trade work. Avoid micromanaging or moving your stop out of fear.
14. Close position
Exit at your stop or target, or manage per your plan (e.g. trail/partial profit). Stick to the rules.
15. Review results
Log the trade in your journal (Module 18), grade your execution, and note lessons for next time.
Print this list and keep it beside your screen. Follow it on every trade until the routine becomes automatic.
Frequently Asked Questions
Yes. Run the full process on a demo account until itβs second nature before risking real money.